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Create and Maintain Financial Aid Awards and Loans

When a student is assigned a financial award, it displays in the Financial Awards tab. To access the Financial Awards tab, first select the appropriate academic year and financial aid year on the Financial Status tab, and then click the Awards tab. A list of awards assigned to that student for that particular financial aid year displays. If a student is assigned more than one award package, select the appropriate package from the Filter to Package drop-down list.

Awards can be assigned using the following processes:

Awards assigned using any of these methods display in the list on the Financial Awards tab.

COD Export/Import history can also be viewed and COD Header Records are maintained from the Awards tab.

To manually assign a single award:

1. From the CAMS Enterprise Home page, click Financial Aid >Maintenance >Awards tab. The Financial Awards window opens.
2. Select the appropriate Package to which the award is going to be assigned. COD Awards added here must be assigned to a Package (Financial Status record). Non-COD awards may be added without linking to a Financial Aid Status record.
3. Right-click on the data grid to access the Financial Aid Award Detail Entry form.
4. Select the appropriate Term (Term Calendar Lookup Table).
5. The Distribution Dt. (date) automatically defaults to today’s date. If the Distribution Dt. is not today's date, select the appropriate date from the calendar.
6. Select the appropriate Award Type (TransDoc Reference table located at CAMS Manager >Lookup Table Options >Transaction Documents) from the drop-down lists.
7. Enter the Amount. The Dist Amount field will automatically populate when the Amount field is filled in for non-COD awards. The Dist Amount field for COD awards will populate upon adding the COD award.
8. The description automatically fills in when the Award Type is selected.
9. Select the Award Status such as Pending, Approved, etc. (FINAID Status glossary table).
10. Reference is a free form field for an alphanumeric reference code.
11. Select from the drop-down lists the appropriate Credit Status and Codes.
12. If the Award amount is dependent on the number of registered hours, not the Packaged and Load value, enter the number of required registered hours.
13. Select Yes or No to indicate whether the award will display on the student's billing statement, and then select the appropriate date from the calendar to indicate the Check Signed On date, if applicable.
14. The TransID is used in the PowerFAIDS import to allow more than one award with the same Award Type and same Term to be imported. Once a TransID is saved it cannot be changed within the user interface.
15. Place a check mark next to Lock Award to prevent this award from being modified during packaging. A locked award will display a check mark in the Lock column of the grid. Locked awards may be viewed or modified from Financial Aid Maintenance without unlocking the award.
16. If the award type has been identified in Financial Aid >Setup as a Direct Loan, the Direct Loan section will display. When manually entering an award, the Origination Fee Amount and the Interest Rebate Amount will calculate based on the percentages listed the award setup and the fields will populate upon saving the Award detail. These amounts can be changed in the COD Award Header detail, but the difference between Origination Fee Amount and the Interest Rebate Amount must equal the difference between the full award and the distributed amount.
17. Select the Campus to be used for this award. Leave this field blank to use the Campus set in the Registration Status for the Term assigned to this award. If an associated student status record does not exist, CAMS looks to the most recent student status record to retrieve the campus value. The two-digit Campus Code as set in the Campuses reference table is appended to the First 6 Characters of OPEID Code field as set in the COD Export to complete the Enrollment School Code (OPE ID) for the COD Export.
18. The Student Accepted field reflects the choice the student made on the portal. It can be changed here anytime by financial aid staff. Once the award has been accepted or declined and submitted from the Student Portal or manually selected here, the student cannot modify the selection in the portal. To allow the student to reselect Accept or Decline from the Student Portal, change this drop-down to the blank selection.
19. The Payment Period Start Date must be set for each Package Term in Financial Aid >Setup >Yearly Setup. This date is used in the COD Export to report the correct Payment Period Start Date for each Disbursement. If there is a circumstance where this default date in Yearly Setup needs to be overwritten, the date can also be set for each award individually in Financial Aid >Maintenance >Awards. This date is also used in Return to Title IV Funds calculations located at Tools >Processes >Financial Aid >R2T4.
20. The Calendar Year field is used for COD Campus Based reporting. This value is required when the award type selected has a COD Award Type of FWS.
21. Click Add to save this information, and Cancel to exit without saving.

Note: If this award has a Yearly Max and/or number of available Slots entered in the Yearly Award Properties page and either field has been exceeded when you click Add an Alert dialog box displays. You can continue to apply the award or cancel.

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